Problem Set 4 Consumer And Producer Surplus B Open The Following In A Separate Window As You Will Use The Graph To Answe 1 (51.2 KiB) Viewed 13 times
Problem Set 4 Consumer And Producer Surplus B Open The Following In A Separate Window As You Will Use The Graph To Answe 2 (47.91 KiB) Viewed 13 times
Problem set 4 Consumer and producer surplus B Open the following in a SEPARATE window as you will use the graph to answer the questions below. https://courses.cscc.edu/bbcswebdav/xid-42178228_1 Use sliders to change the position of the "Demand Line" or the "Supply Point A." Drag the "Supply Point B" anywhere to change supply's slope. 1. First Position the demand using the slide so its endpoints are (0, 40 and 40,0). 2. Now click on supply point B red dot so it rests on a quantity of 40 at a P=40 And the origin (0,0) 3. The equilibrium price is? $ 4. The equilibrium quantity is, 5. Consumer surplus at this equilibrium is equal to $ 6. Producer surplus at this equilibrium is equal to $ 7. Place a price ceiling at a price of $10. 8. How many units will be purchased at the price ceiling of $10? 9. The consumer surplus after the implementation of the price ceiling has now become $ 10. There has been a(n) (increase, decrease) of consumer surplus of $ 11. Producer surplus after the implementation of the price ceiling has become $ 12. There has been a(n) (increase, decrease) of producer surplus of $ 13. Social surplus after the implementation of the price ceiling is $ 14. The dead weight loss of the price ceiling is $
Price 55 50 45 35 30 25 20 15 10 5 Supply Point: A 5 -5 0 10 15 Equilibrium 20 25 Quantity 30 Move Demand Line (1-50): O-40.19 35 Supply Point B Demand 40 45 644 50 Use the "Move Demand Line" slider to change the position of the "Demand" line. Drag the "Supply Point: A or B" anywhere to change supply's slope. Version 1.0.1
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